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Caterpillar (CAT) -1.2% premarket after Jefferies cuts estimates and its target price for the...

Caterpillar (CAT) -1.2% premarket after Jefferies cuts estimates and its target price for the stock to $75 from $95 ahead of Q1 earnings next week. The firm lowers Q1 EPS estimates to $1.35 from $1.40, FY 2013 EPS to $7.40 from $8.10, and 2014 EPS to $7.75 from $8.75 as lower mining offsets growth in construction. Also, CAT is cut to Neutral with an $88 price target (from $112) at Macquarie.
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